click to enable zoom
Loading Maps logo
Advanced Search

The Real Deal NYC

Boston Properties inks big renewal with law firm at 599 Lex

Law firm Shearman & Sterling has been headquartered at 599 Lexington Avenue for three decades, and it now plans to stay around for two more — after making big upgrades to the office space. Shearman and landlord Boston Properties announced Thursday that the tenant has renewed its 338,000-square-foot lease at the Midtown East building for 20 more years. The lease was originally set to expire in 2022. “Renewing our lease enables us to design a

The post Boston Properties inks big renewal with law firm at 599 Lex appeared first on The Real Deal New York.

+ read more

Flushing real estate boom continues with another mixed-use project

Flushing is getting yet another major mixed-use project. Developer Vicki Zhi has filed plans with the Department of Buildings for a roughly 106,000-square-foot development at 136-18 Maple Avenue. The 14-story project would include 68 residential units, along with commercial and community space. It will stand 147 feet tall. Zhi did not respond to a request for comment. An LLC linked to Amy Khoudari has owned the property since at least 2015, according to property records.

The post Flushing real estate boom continues with another mixed-use project appeared first on The Real Deal New York.

+ read more

Multifamily still delivers as investors avoid rent control

Investors are still paying top dollar for multifamily assets — if they are outside of the reach of rent control. Across the country, investors paid more on average per apartment in the third quarter of 2019 than they did in 2018 — $158,296 per door, up from $151,766 in 2018 and $106,074 in 2012, according to an analysis by Marcus & Millichap, the Wall Street Journal reported. But investors are avoiding areas that are subject

The post Multifamily still delivers as investors avoid rent control appeared first on The Real Deal New York.

+ read more

“We’re putting ourselves in situations where anything is possible”: Real estate agent’s killing rattles industry

John Gomes had what he called “a danger feeling.” It was Halloween and the real estate agent was meeting a client in Lower Manhattan for a showing. That night in 2008, the client turned up with a “clearly deflated” hockey bag and holding a pair of flip-flops. Gomes went with his gut, pretended he’d forgotten the key to the home and offered to give the client a tour of the building’s amenities. When they walked

The post “We’re putting ourselves in situations where anything is possible”: Real estate agent’s killing rattles industry appeared first on The Real Deal New York.

+ read more

Sarah Jessica Parker, Matthew Broderick shopping $19M townhouse

Sarah Jessica Parker and Matthew Broderick are reportedly looking for a buyer for their $19 million townhouse in the West Village. The Charles Street property, which the celebrity couple purchased in 2000 for $2.99 million, is being shopped through a whisper listing, the New York Post reports. No marketing materials are publicly available. In 2016 the actors bought two townhouses at 273 and 275 West 11th St, which they have been working on combining into

The post Sarah Jessica Parker, Matthew Broderick shopping $19M townhouse appeared first on The Real Deal New York.

+ read more

Fairway Market files for bankruptcy, plans to sell stores

Fairway Market has filed for Chapter 11 bankruptcy protection, a day after refuting a report that it was planning to close all its stores. The company said Thursday it had entered into an agreement with Village Super Market to sell up to five New York City stores and the company’s distribution center for about $70 million. The deal was characterized as a “stalking horse” agreement, which means other businesses could also put in bids on

The post Fairway Market files for bankruptcy, plans to sell stores appeared first on The Real Deal New York.

+ read more

Jumaane Williams announces plan to crack down on landlords

Public Advocate Jumaane Williams has announced plans to introduce legislation to hold landlords more accountable. In a “State of the Public” address at Brooklyn College Wednesday, Williams said the city needed to “increase penalties for failing to make or lying about the status of critical repairs, and bring transparency to ownership of properties.” Williams said he planned to present the “Worst Landlord Accountability Act” to the City Council but offered no immediate timeline, according to

The post Jumaane Williams announces plan to crack down on landlords appeared first on The Real Deal New York.

+ read more

Bob Gladstone, Gemdale put FiDi supertall on hold

Madison Equities and Gemdale Properties’ supertall condo at 45 Broad Street will be delivered shorter and later than expected, The Real Deal has learned. A spokesperson for the developer confirmed that the condominium project is being put on hold due to “market conditions.” It’s not clear when the development team — which no longer includes Pizzarotti — will revive the project. When they do, the tower will be 80 feet shorter than the 1,115-foot-tall project

The post Bob Gladstone, Gemdale put FiDi supertall on hold appeared first on The Real Deal New York.

+ read more

Lendlease disputes city’s penalty in 2018 death at Central Park Tower

After a glass panel fell from Central Park Tower and fatally crushed a 67-year-old security guard two years ago, the Department of Buildings filed several violations against general contractor Lendlease. Now, after successfully appealing most of the violations, the construction company wants the remaining penalty to also be dismissed. Lendlease filed a petition against the DOB and the Office of Administration Trials and Hearings Tuesday, alleging that it was wrongfully penalized for “failing to safeguard”

The post Lendlease disputes city’s penalty in 2018 death at Central Park Tower appeared first on The Real Deal New York.

+ read more

Experts take issue with proposed tax on mezzanine loans

Experts say a proposed tax on mezzanine debt would raise the cost of financing across the board in New York — making housing, among other things, more expensive. State Sen. Julia Salazar and Assembly member Harvey Epstein proposed the tax this month in an effort to disincentivize real estate speculation, flag over-leveraged transactions and raise revenue for public housing. Their rationale was that “institutional investors and the extremely wealthy” finance risky multifamily investments with mezzanine

The post Experts take issue with proposed tax on mezzanine loans appeared first on The Real Deal New York.

+ read more
  • Mortgage Calculator

    Calculate